ACNB (NASDAQ:ACNB) Downgraded by Wall Street Zen to "Hold"

Key Points

• Wall Street Zen downgraded ACNB from "Buy" to "Hold" (Zacks also cut to "Hold"), though the consensus remains a Moderate Buy with a $52.00 average price target.
• ACNB recently beat Q4 expectations with $1.35 EPS vs. $1.26 expected and revenue of $40.74M, and shows solid profitability (ROE 12.58%, net margin 19.32%) with a market cap of ~$530M and a P/E of 14.47.
• Company insiders have been selling shares (EVP sold 1,486 shares; SVP sold 750), insiders own 3.53% of the stock, and institutional investors hold about 32.35% after several funds adjusted positions.

ACNB (NASDAQ:ACNB - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Sunday.

A number of other equities research analysts have also recently commented on the stock. Zacks Research cut shares of ACNB from a "strong-buy" rating to a "hold" rating in a report on Monday, March 9th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of ACNB in a report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, ACNB currently has an average rating of "Moderate Buy" and a consensus price target of $52.00.

ACNB Price Performance

NASDAQ:ACNB opened at $51.22 on Friday. The firm has a market capitalization of $530.13 million, a price-to-earnings ratio of 14.47 and a beta of 0.86. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. ACNB has a 12-month low of $38.23 and a 12-month high of $53.89. The stock's 50 day moving average price is $49.58 and its two-hundred day moving average price is $48.22.

ACNB (NASDAQ:ACNB - Get Free Report) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $1.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.09. The business had revenue of $40.74 million during the quarter, compared to the consensus estimate of $39.69 million. ACNB had a return on equity of 12.58% and a net margin of 19.32%. On average, analysts anticipate that ACNB will post 3.22 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Brett D. Fulk sold 1,486 shares of ACNB stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $48.52, for a total value of $72,100.72. Following the sale, the executive vice president owned 1,048 shares of the company's stock, valued at approximately $50,848.96. The trade was a 58.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kevin J. Hayes sold 750 shares of ACNB stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $51.30, for a total transaction of $38,475.00. Following the completion of the sale, the senior vice president directly owned 2,632 shares in the company, valued at $135,021.60. This trade represents a 22.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 3.53% of the company's stock.

Institutional Investors Weigh In On ACNB

A number of hedge funds and other institutional investors have recently bought and sold shares of ACNB. Cubist Systematic Strategies LLC bought a new stake in ACNB during the 1st quarter valued at $213,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in ACNB by 5.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,942 shares of the bank's stock valued at $203,000 after acquiring an additional 234 shares during the period. Rhumbline Advisers raised its holdings in ACNB by 31.9% during the 2nd quarter. Rhumbline Advisers now owns 15,515 shares of the bank's stock valued at $665,000 after acquiring an additional 3,749 shares during the period. First Trust Advisors LP raised its holdings in ACNB by 5.2% during the 2nd quarter. First Trust Advisors LP now owns 6,725 shares of the bank's stock valued at $288,000 after acquiring an additional 334 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in ACNB by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 148,523 shares of the bank's stock valued at $6,363,000 after acquiring an additional 1,224 shares during the period. Institutional investors own 32.35% of the company's stock.

ACNB Company Profile

ACNB Corporation is the bank holding company for ACNB Bank, a community-focused financial institution headquartered in Gettysburg, Pennsylvania. Tracing its roots to a local banking organization established in the 19th century, the company has evolved into a regional banking franchise serving individuals, families and businesses across south-central Pennsylvania. As a publicly traded company on NASDAQ under the ticker ACNB, it operates under a traditional community banking model, emphasizing personal service and local decision-making.

The company's main business activities encompass a full range of retail and commercial banking products.

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